XAI Octagon Correlations

XFLT Stock

USD 5.57 0.02 0.36%

The current 90-days correlation between XAI Octagon Floating and Eagle Point Credit is 0.49 (i.e., Very weak diversification). The correlation of XAI Octagon is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

XAI Octagon Correlation With Market

Weak diversification

The correlation between XAI Octagon Floating and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XAI Octagon Floating and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in XAI Octagon Floating. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with XAI Stock

0.81	V	Visa Class A	Pair Corr
0.68	GS	Goldman Sachs Group	Pair Corr
0.83	MA	Mastercard	Pair Corr
0.78	AXP	American Express	Pair Corr
0.74	COF	Capital One Financial Earnings Call This Week	Pair Corr
0.78	GAIN	Gladstone Investment	Pair Corr
0.71	GLAD	Gladstone Capital	Pair Corr
0.78	OPFI	OppFi Inc	Pair Corr
0.76	PFLT	PennantPark Floating Rate	Pair Corr
0.86	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.66	ALLY	Ally Financial	Pair Corr
0.74	ARCC	Ares Capital	Pair Corr
0.72	TPVG	Triplepoint Venture	Pair Corr
0.73	TSLX	Sixth Street Specialty	Pair Corr
0.7	C	Citigroup Aggressive Push	Pair Corr
0.71	L	Loews Corp	Pair Corr
0.69	DHIL	Diamond Hill Investment	Pair Corr
0.8	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.83	AC	Associated Capital	Pair Corr
0.7	AX	Axos Financial	Pair Corr
0.79	BK	Bank of New York	Pair Corr
0.76	BN	Brookfield Corp	Pair Corr
0.72	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.68	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.78	CM	Canadian Imperial Bank	Pair Corr
0.81	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.77	HG	Hamilton Insurance Group,	Pair Corr
0.71	IX	Orix Corp Ads	Pair Corr

Moving against XAI Stock

0.33	HRZN	Horizon Technology	Pair Corr
0.51	FG	FG Annuities Life	Pair Corr
0.41	EG	Everest Group	Pair Corr

Related Correlations Analysis

	ECC	EIC	HFRO	OXLC	PAXS	PDO	THW	TPVG
ECC		0.12	0.58	0.25	0.59	0.8	0.34	0.46	ECC
EIC	0.12		-0.12	0.28	0.15	0.08	-0.05	-0.19	EIC
HFRO	0.58	-0.12		-0.42	0.65	0.84	0.25	0.84	HFRO
OXLC	0.25	0.28	-0.42		-0.14	-0.03	0.03	-0.45	OXLC
PAXS	0.59	0.15	0.65	-0.14		0.77	0.4	0.41	PAXS
PDO	0.8	0.08	0.84	-0.03	0.77		0.3	0.74	PDO
THW	0.34	-0.05	0.25	0.03	0.4	0.3		0.05	THW
TPVG	0.46	-0.19	0.84	-0.45	0.41	0.74	0.05		TPVG
	ECC	EIC	HFRO	OXLC	PAXS	PDO	THW	TPVG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PDO	+ 0.84	HFRO
TPVG	+ 0.84	HFRO
PDO	+ 0.8	ECC
PDO	+ 0.77	PAXS
TPVG	+ 0.74	PDO
PAXS	+ 0.65	HFRO

High negative correlations

TPVG	- 0.45	OXLC
OXLC	- 0.42	HFRO
TPVG	- 0.19	EIC
PAXS	- 0.14	OXLC
HFRO	- 0.12	EIC
THW	- 0.05	EIC

Risk-Adjusted Indicators

There is a big difference between XAI Stock performing well and XAI Octagon Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze XAI Octagon's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ECC	1.01	0.13	0.05	0.44	0.91	(1.20)	2.29	(1.73)	8.53
EIC	0.93	(0.05)	(0.04)	0.05	2.42	(0.89)	2.30	(1.53)	14.77
HFRO	0.71	0.03	(0.06)	0.24	0.92	(0.76)	1.60	(1.24)	3.46
OXLC	0.96	(0.14)	0.00	(0.10)	0.00	0.00	1.66	(1.98)	5.91
PAXS	0.52	0.03	(0.09)	0.21	0.60	(0.54)	1.11	(1.00)	3.60
PDO	0.33	0.05	(0.08)	0.31	0.33	(0.39)	0.91	(0.70)	4.11
THW	0.90	(0.05)	(0.08)	0.05	1.17	(0.91)	1.72	(1.72)	5.33
TPVG	1.54	0.24	0.13	0.40	1.52	(1.74)	3.59	(2.70)	11.08

XAI Octagon Corporate Management

Lauren Basmadjian	Portfolio Manager	Profile
CFA CFA	Portfolio Manager	Profile
Benjamin Mcculloch	Chief Secretary	Profile
Gretchen CFA	Portfolio Mang	Profile

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